Study shows cybersecurity industry impacts 16.5k jobs

In 2012, then FBI Director Robert Mueller stood up at a cybersecurity conference and said, “There are two types of companies- those who have been hacked and those that will be.”

Whether you’re a Fortune 500 company, military contractor, genomics company or a neighborhood restaurant, cybersecurity has become ubiquitous for all businesses. According to Cybersecurity Ventures, an estimated $1 trillion will be spent on cybersecurity from 2017 to 2021. These global businesses may have San Diego – or rather one of its 100 plus cyber firms – to thank for that.

A new study released this week by San Diego Cyber Center of Excellence, with research by San Diego Regional EDC, provided additional insights on the impact of San Diego’s cyber economy. In total, 104 core cyber firms employ 4,230 people in the region. SPAWAR, the Navy’s cybersecurity and R&D arm, employs an additional 3,390 in the cyber industry.

According to the study, San Diego’s cybersecurity industry generates more than $1.9 billion in GDP and impacts 16,580 jobs annually – equivalent to hosting four Super Bowls or 14 Comic-Cons each year – and has grown by more than 26 percent in just two years, since EDC’s last cyber study.

“San Diego is uniquely positioned to capitalize on the ever-growing global demand for cybersecurity products and security,” said San Diego Mayor Kevin Faulconer. “This study shows how the convergence of the innovation economy, education and research, and department of defense presence creates a fertile ecosystem for companies and talent.”

San Diego, with its strong concentration of military personnel, has a growing a base of software jobs and university specializations, which benefits from a rich pool of cybersecurity talent. It’s one of the reasons companies such as ESET and iboss have set up shop here. More than 51,000 technology specialists call San Diego home and work in a variety of cybersecurity-related occupations. Employers surveyed expect their cybersecurity workforce to grow by 13 percent in the next year compared to projected 2 percent overall regional job growth.